Christian Von Koenigsegg has revealed the company is working on an entry-level model to slot below the Agera.

Christian Von Koenigsegg has revealed the company is working on an entry-level model to slot below the Agera.

Speaking to Motoring, Koenigsegg said the car would cost between $600,000-700,000 (€433,400-505,635) and would remain exclusive despite being significantly cheaper than any of the company's other models.

Little else is known about the car but it would presumably be less powerful than the Agera which uses a twin-turbo 5.0-liter V8 that develops 960 PS (706 kW) and 1100 Nm (811 lb-ft) of torque.

Besides talking about the entry-level model, Koenigsegg confirmed the One:1 supercar has been sold out. As a refresher, the model has a twin-turbo 5.0-liter V8 that produces 1,341 PS (986 kW) and 1,371 Nm (1,011 lb-ft) of torque.